Hox Ltd provides the following summarised balance sheet at 31 May 20*8: The non-current assets were revalued
Question:
Hox Ltd provides the following summarised balance sheet at 31 May 20*8:
The non-current assets were revalued at £300,000 on 1 June 20*8.
Required
Prepare a summarised balance sheet at 1 June 20*8 after revaluing the non-current assets.
Transcribed Image Text:
Non-current assets at cost Current assets Bank Current liabilities Shareholders' equity Ordinary shares of 25 pence each General reserve Retained earnings £ 23,000 18,000 41,000 40,000 £ 180,000 1,000 181,000 70,000 30,000 81,000 181,000
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